Question 2 (60 marks) Below is the year-end adjusted trial balance for Montreal Accounting. Rent expense 5,000 Montreal Accounting Trial Balance For Year Ended December 31, 2020 Account Debit($) Credit(S) Building 150,000 Depreciation expense, Building 500 1,100 Notes payable 11,000 Unearned accounting fees 3,000 Accumulated depreciation, Building 1,500 Salaries payable 7,000 Mary Lee, capital 10,000 Land 50,000 Mary Lee, withdrawals Accounts receivable 2,200 Equipment 15,000 Repairs expense 5,000 Copyright 900 Long term notes receivable 3,000 Office supplies 700 Depreciation expense, Equipment 600 Insurance expense 100 Accounting fees earned 211,400 Cash 8,000 Office supplies expense 900 Prepaid insurance Accumulated depreciation Equipment 1.200 Telephone expense 1,000 Totals 245,100 245,100 1. The current portion of the notes payable due in 7 months is $3,000 2. $5,000 was invested during the year 3. The current portion of the notes receivable due in 2021 is $1,000 1,100 Required (a) Complete an Income Statement for the year 2020 in good format. (b) Complete ONLY the "Liabilities" and "Owner's Equity" parts of the Balance Sheet for the year 2020 in good format